Attraction of Turkish insurance market hampered by underwriting losses and economic volatility

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<title>Attraction of Turkish insurance market hampered by underwriting losses and economic volatility</title>
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<issuance>monographic</issuance>
<place>
<placeTerm type="text">New Jersey</placeTerm>
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<publisher>A.M. Best Company</publisher>
<dateIssued>2019</dateIssued>
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<abstract displayLabel="Summary">Turkey has historically provided great opportunities for investors, offering high economic growth potential and a unique "east meets west" position. As such, most foreign insurance groups have set up or acquired operations in Turkey to take advantage oof the huge economic potential. However, more recently, with elevated geopolitical tensions, currency devaluation, high inflation, changing financial regulation and an insurance market that has consistently generated poor underwriting performance for most market participants, sentiment is less optimistic. Many global insurers would now think twice about investing in Turkey, with those present considering their options.</abstract>
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<topic>Mercado de seguros</topic>
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<topic>Productos de seguros</topic>
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<geographic>Turquía</geographic>
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<title>Best's Market Segment Report ; September 18, 2019</title>
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